Hello friends, today our topic for discussion is brand and branding strategy: Modern day brand play
What is a brand?
A logo?
A theme line?
A promise?
A way of doing business?
A relationship? With whom?
Advertising?
Or, is it simply reputation?
These questions should be kept in mind before creating or evaluating a brand. The strategy should be rooted in the brand's vision and driven by the principles of differentiation and sustained consumer appeal.
The true brand is the sum total of the perceptions of all the constituencies which contribute to revenues and profits. There should be a vision, a clean articulation of strategic, financial; brand goals that management has created for the brand.
A first step to strategic success as to where the brand can & cannot go. Generally it provides a vision that forces management to articulate what they want the brand to do for the organization over the next five years, relative to brand value, revenue & profit contributions.
Here comes the matter of place, where we actually want to build our house?
The place in the consumer’s mind that you want your brand to own –the benefit you want them to think of when they think of your brand. A strong position means the brand has a unique, credible, sustainable, & valued place in the customer’s mind.
These companies are well established in the global arena, because of their brand positioning –they exactly know these 3 things
A clear definition of the target market (TG) they wish to pursue
A definition of business their company is in or the industry or category it competes in.
A statement of point of difference & key benefits
